Well, that was fun while it lasted. The bulls had a brief moment of glory, but now most coins are back in the red, because of course they are 🙄. According to CoinStats, it’s time to put the champagne back on ice.
Let’s talk about Bitcoin (BTC), because who doesn’t love a good trainwreck? The rate is basically unchanged since yesterday, because apparently the crypto world is just as bored as I am.
On the hourly chart, BTC is clinging to the local support of $103,907 for dear life. If the daily bar closes around that mark, we can all expect a thrilling decline to the $103,000 range. Yay, more excitement 🎉.
But wait, there’s more! On the longer time frame, the rate is miles away from the main levels. So, we get to play the thrilling game of “candle closure” 🕯️. If it closes near or below yesterday’s bar’s low, traders can expect a more profound correction to the $102,000-$103,000 zone. Because who doesn’t love a good correction?
And from the midterm point of view, it’s more of the same. If bulls lose the $103,000 zone, we can all expect a fun test of the support level shortly. Because, you know, that’s exactly what we need 🤦♀️.
And finally, Bitcoin is trading at $104,321 at press time, because who doesn’t love a good arbitrary number?
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2025-06-20 19:11